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Added on : 2019-07-10 21:02:56

In financial year 2018-19, the country’s total collection of Direct Taxes stood at Rs. 11,37,685.41 crore, in which Gujarat stood at No. 5 position with total Direct Tax collection of Rs. 49,021.69 crore. The States that preceded Gujarat are Maharashtra (Rs. 4,25,390.84 crore), Delhi (Rs. 1,66,405.42 crore), Karnataka (Rs. 1,19,796.51 crore) and Tamil Nadu (Rs. 74,238.94 crore). Union Minister of State for Finance Shri Anurag Thakur provided the information in Rajya Sabha on July 9, 2019 while replying to a question asked by MP Shri Parimal Nathwani.

According to the statement, there were total 46,10,20,587 PAN holders in the country as on 28 June, 2019, out of which 6,31,84,403 PAN holders filed IT returns (ITRs) in assessment year (AY) 2018-19 as on 3rd July, 2019. In Gujarat, there were total 2,55,70,715 PAN holders of which 62,27,487 PAN holders filed ITRs in AY 2018-19.

According to the response of the minister, the government has taken a number of initiatives to increase tax-payer base in the country including implementation of the Non-Filer Monitoring Systems (NMS) by the Income Tax Department which assimilates and analyses in-house information as well as transactional data received from third-parties, to identify such persons/entities who have undertaken high value financial transactions but have not filed their returns.

Shri Nathwani wanted to know about the amount of income tax which has been collected in assessment year 2018-19 in the country, the number of PAN holders registered in the country and the details of Government’s plans to increase tax-payer base in the country.

The mechanism for collection and verification of financial information has been broadened to include data in respect of various types of high-value transactions from banks and financial institutions and high-value expenditure from commercial establishments in the form of Statement of Financial Transaction (SFT), said the minister.

He further said that the scope of TDS and TCS has been expanded by bringing more taxable transactions within their ambit and quoting of Permanent Account Number (PAN) has been made mandatory for specified transactions in respect of property, shares, bonds, insurance, foreign travel, demat account, etc.

The statement also said that the Income-tax Department has initiated Project Insight to strengthen the non-intrusive information driven approach for increasing tax compliance and effective utilization of information in tax administration. This integrated platform would play a key role in widening of tax-base and tracking of tax evaders.

 

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